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Spain's conservative leader and next prime minister Mariano Rajoy smiles during his speech at the Parliament in Madrid Monday, Dec. 19, 2011, almost a month after being elected. Rajoy, who will be voted in as premier on Tuesday, said his incoming conservative government aims to reduce Spain's deficit by euro 16.5 billion ($21.6 billion) next year. Rajoy did not specify what mix of spending cuts or tax hikes might be used to get the deficit down from a 9.2 percent of GDP last year to Spain's stated goal of 4.4 percent of GDP in 2012. (AP Photo/Daniel Ochoa de Olza)
/ AP